UK watchdog suspends part of car finance redress scheme

Payouts on UK watchdog’s car finance compensation scheme paused by tribunal

Lenders will no longer need to calculate or pay compensation to people owed money until a legal process concludes.

UK drivers mis-sold car finance face longer wait for compensation

The Financial Conduct Authority (FCA) is facing legal challenges from four companies

UK watchdog's car finance redress scheme partly suspended ahead of legal challenges

Update issued on car finance as motorists left waiting for payout verdict

Payouts were meant to start this year but are now facing significant delays

Millions of drivers face delays to receive £829 as FCA suspends car finance compensation scheme

The Financial Conduct Authority has announced a partial suspension of the car finance redress scheme, which will leave drivers waiting even longer to receive compensation.

UK watchdog suspends part of car finance redress scheme

The UK's financial watchdog has been forced to suspend part of its car finance redress scheme, meaning millions of motorists will have to wait until next year to find out if they will be compensated.